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Israeli fintech company Liquidity Group will establish a research and development center in Abu Dhabi and become the first Israeli company to join the $545 million project of the Abu Dhabi Investment Office (ADIO) Innovation Programme.
The cooperation agreement was signed by Eng. ADIO Acting Director General Abdulla Abdul Aziz AlShamsi and Liquidity Group CEO Ron Daniel during Abu Dhabi Financial Week (ADFW) 2022.
“Besides the personal excitement of realizing the Abraham Accords in real life and the growing network, friendships and partnerships in the UAE, I’ve always considered the UAE and ADGM in particular the best place in the world to scale a tech company,” said Liquidity Group Chief executive Ron Daniel said. Thanks to our partners at ADIO, our new R&D center in ADGM has grown rapidly and quickly absorbed some of the best talent in the world. We look forward to expanding our partnership with ADIO to benefit all UAE tech companies. “
Through the Innovation Programme, ADIO will support Liquidity Group’s initiative to build a machine learning capability in Abu Dhabi. The company’s R&D center will focus on developing machine learning-enabled LendTech solutions for its underwriting business. It will also establish an enterprise machine learning center of excellence to support other startups in Abu Dhabi to apply Liquidity Group’s modeling approach. Additionally, it will work with universities in Abu Dhabi to develop educational training programs and certifications focused on machine learning.
Founded in 2018, Liquidity Group lends to mid-market and late-stage companies by automating the entire debt lending cycle.
project. Abdulla Abdul Aziz AlShamsi, Acting Director General of ADIO, said: “Liquidity Group adds a strong force to Abu Dhabi’s financial services ecosystem, leveraging its strong expertise in machine learning to grow the venture financing sector. The technology developed in the emirate focuses on Locally relevant and globally exportable solutions that will help support start-ups in Abu Dhabi and the region. ADIO’s partnership with Liquidity Group will also help deepen the relationship between the UAE and Israel as the two markets Both are pursuing innovation-driven technologies and activities with far-reaching impact.”
ADIO opened an office in Tel Aviv in 2021 to support innovative Israeli companies looking to establish and expand their operations in the UAE capital.
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